FIG Peer Review Journal


Responsible Property Investment: Making a Difference (3610)

Frances Plimmer (United Kingdom)
Professor Frances Plimmer
Senior Research Officer
The College of Estate Management
United Kingdom
Corresponding author Professor Frances Plimmer (email: f.a.s.plimmer[at], tel.: + 44 (0) 118 921 4696 ; + 44 (0) 118 921 4667)

[ abstract ] [ paper ] [ handouts ]

Published on the web 2009-07-20
Received 2009-06-29 / Accepted 2009-07-13
This paper is one of selection of papers published for the FIG Regional Conference in Hanoi, Vietnam and has undergone the FIG Peer Review Process.

FIG Regional Conference
ISBN 978-87-90907-75-4 ISSN 2308-3433


Corporate responsibility (or corporate social responsibility) is seen to be a growing force within the corporate community, with a range of policy statements available and reports into how these statements are being put into practice. Indeed, since July 2000, private sector pension trustees in the UK are required to report on how they take into account social, environmental and ethical considerations when they make investment decisions. Clearly, sustainability issues (however these are defined) underpin this movement. While much has been published on the efforts to achieve a sustainable built environment through a range of development-related processes, it is only in recent years that any interest has been shown in the property investment community (and, indeed, the investment community in general). Yet it is clear that the funders of development and property acquisition can influence sustainability through their operations. Clearly, a socially and environmentally aware developer-occupier has the potential to reflect sustainability principles in the various investment and development choices involved in securing an appropriate property. But where the investor or the investment advisor is more remote from the asset and particularly for those large-scale investors competing for funds in the general investment market and looking for returns for their shareholders, what opportunities are there if the investor stakeholders have social or environmental concerns or are seeking to demonstrate, through investment, their socially responsible credentials? This paper presents a background of Responsible Property Investment (RPI), what it is, where it comes from and how it is manifesting itself. Property investment is the process through which the world’s built environment is funded. As a driver both for the quality and quantity of our built environment, investment has the potential to have a huge influence on a range of building and occupation characteristics. This paper reviews the principles and arguments which underpin SRPI and the role which valuers can play in both interpreting the market value of such practices in their valuations, and also encouraging market players to appreciate (and therefore ’value’) sustainable features and practices when advising clients.
Keywords: Valuation; investment; sustainability